Daily Technical Report

May 29, 2012

Sensex (16417) / NIFTY (4986)

Yesterday, our benchmark indices opened on a positive note and traded with a strong positive bias to close near days high. The rally was mainly lead by banking heavyweight SBI which closed almost 5% higher. There was no sector on the losing side. The advance to decline ratio was strongly in favor of advancing counters (A=1714 D=1008) (Source www.bseindia.com) Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16800 / 5070 and 16429 / 4980, respectively. The 20-Week EMA is placed at 16930 / 5130 level. Indices have taken a support near 15860 / 4766 level, which is the 78.6% Fibonacci Retracement level of the rise from 15135 / 4531 (Low on December 23, 2011) to 18524 / 5630 (High on February 22, 2012). The daily RSI Smoothened oscillator has now signaled a positive crossover in the oversold territory The candlestick pattern on the weekly chart represents another bullish Hammer. On the daily chart we are witnessing positive crossover in 3&8 EMA.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:
View Expected Targets Support Levels Positive above 4995 5050 - 5090 4943 4889

Trading strategy: The week began on an optimistic note after Fridays flat session and our benchmark indices have finally managed to break out of the mentioned trading range of 16390 to 15809 / 4957 to 4767. On the daily chart we are now witnessing a positive crossover in 3&8 EMA which suggests that momentum on the upside is likely to continue once the Indices trade above yesterdays high of 16440 / 4995. In this scenario, indices are likely to move towards 16700 16840 / 5050 5090 levels, which nearly coincide with the 200-day SMA. On the downside the 16290 / 4943 mark is a decent support for the markets.

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Daily Technical Report

May 29, 2012

Bank Nifty Outlook - (9698)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range during first half of the session. However during the second half we witnessed strong rally which led the index to close near the highest point of the day. The index has managed to give a convincing close above the mentioned resistance zone of 9525 9605. We are now witnessing positive crossover of directional indicators in ADX (9) indicator. The bullish implication of the mentioned crossover would be seen if the Bank nifty sustains above yesterdays high of 9717. In this case index is likely to rally towards 9847 9900 levels. On the downside 9554 9370 levels are likely to act as support in coming trading session. Actionable points:
View Expected Targets Support Levels Positive above 9717 9847 9900 9554 9370

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

May 29, 2012 Daily Pivot Levels for Nifty 50 Stocks
SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM ASIANPAINT AXISBANK BAJAJ-AUTO BANKBARODA BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,210 4,907 9,399 1,116 142 3,721 994 1,479 660 298 206 697 322 307 312 183 1,668 319 2,368 480 654 496 1,818 110 409 810 123 2,347 230 442 60 536 1,174 634 1,079 141 249 718 102 516 688 459 90 1,985 178 673 95 556 265 88 404 1,208 391 S1 16,314 4,946 9,549 1,140 143 3,772 1,012 1,497 674 300 212 707 325 310 313 186 1,682 324 2,390 486 659 502 1,834 113 413 822 125 2,366 233 448 61 546 1,189 644 1,091 143 252 734 104 521 695 467 92 2,043 182 680 97 563 271 90 408 1,217 396 PIVOT 16,377 4,971 9,633 1,157 144 3,806 1,022 1,509 684 302 215 722 328 313 315 189 1,693 331 2,410 490 662 506 1,848 114 417 829 126 2,382 234 454 62 552 1,200 650 1,111 144 255 744 106 527 699 473 94 2,075 186 691 98 569 274 92 412 1,223 399 R1 16,480 5,010 9,782 1,181 146 3,857 1,040 1,527 698 305 220 731 331 316 317 191 1,707 335 2,431 496 667 513 1,864 116 422 842 128 2,402 237 460 63 561 1,215 660 1,123 146 257 760 108 531 706 480 95 2,133 190 698 99 576 280 94 416 1,231 403 R2 16,543 5,034 9,866 1,198 147 3,891 1,050 1,539 708 307 223 747 334 319 318 194 1,718 342 2,451 500 670 517 1,878 118 426 849 129 2,418 238 467 64 567 1,225 666 1,142 147 260 770 110 538 710 487 97 2,165 194 710 100 582 284 96 419 1,238 406

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Daily Technical Report

May 29, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

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Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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